What is ESG?
What is ESG?
Environmental, social and governance (ESG) is a term used by socially conscious investors to evaluate corporate behaviour and non-financial performance indicators which include approaches to sustainable, ethical and corporate governance issues.
Why ESG is Growing in Importance in Mining?
Due to the very nature of the metals and mining industry, ESG has long been a focus for governments, NGOs, industry bodies and wider society concerned by the environmental and social impacts of the extractives sector. Over recent years, these concerns have led to the introduction of wide-reaching and robust ESG-focused regulations, codes and principles that mining companies are now obliged and expected to observe. Therefore, ESG is growing in importance in mining now more than ever.
Examples of ESG-focused principles:
The International Council on Mining and Metals (ICMM), an organisation which is dedicated to a safe, fair and sustainable mining and metals industry, developed 10 Mining Principles. All 27 mining and metals company members need to meet these in order to fulfill membership requirements. The development of ICMM’s Mining Principles mean that investors can easily access information on how these companies are managing a full spectrum of environmental, social and governance issues. To demonstrate their commitment to ESG, companies are often required to adopt best practice and procedures, enhance their monitoring and reporting, and factor ESG considerations into strategic decision-making.
Tools helping mining companies demonstrate their ESG commitments
Resource and energy teams globally trust K2fly to support and facilitate improved safety and reduced risk for Tailings Storage Facility monitoring. Armed with K2fly’s Tailing Management solution, our clients are empowered to effectively uphold and demonstrate their commitment to ESG including the ICMM Mining Principles. K2fly Tailings Management is built to adhere to industry best practice and compliance requirements such as the Investor Mining and Tailings Safety Initiative, the Global Tailings Portal and ICMM – therefore, designed to provide you with key data and insights so that you can easily demonstrate your company’s commitment to ESG.
Key benefits of K2fly’s ESG Capabilities
- Visually demonstrate your commitment to ESG & ICMM’s Mining Principles with our geospatial map, environmental monitoring, compliance, tailings, and stakeholder tools
- Adhere to best practice and meet the requirements of ICMM, Global Tailings Portal, PRI, UNEP, and Church of England Pensions Board
- Protect World Heritage Sites and legally designated areas by mapping disturbance and non-disturbance areas on the geospatial map
- Establish, monitor and measure mine closure completion criteria over time, and in addition, manage and track disturbance and rehabilitation planning targets against delivery
- Uphold and ensure compliance by capturing important obligation information, as well as address and manage key deliverables
- Drive effective environmental monitoring to help minimise the environmental footprint of large-scale projects
- Access and visualise advanced satellite imagery and analysis to demonstrate pre and post project performance
- Identify, track and report on stakeholder profiles and important stakeholder metrics. This is including the ability to highlight trends in stakeholder sentiments and themes, and assign related actions to team members
- Drive proactive tailings management with our comprehensive and functionally rich Tailings solution
Watch this to see the Benefits of K2fly’s Tailings Management
Would you like to know more?
- What are some key challenges facing mine rehabilitation and closure?
- How much does mine rehabilitation cost?
- What are the advancements in mine rehabilitation technology?
- What are some best practice mine rehabilitation methods?
- How to take a macro and micro approach to mine rehabilitation
- What is CRC-TiME?
- How to become an industry leader in mine rehabilitation
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